Expand Energy Corporation (NASDAQ:EXE) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Expand Energy Corporation (NASDAQ:EXE) have received an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $130.1875.

A number of research analysts have recently issued reports on the stock. Citigroup reduced their price objective on shares of Expand Energy from $125.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Truist Financial lowered their target price on shares of Expand Energy from $134.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, July 10th. KeyCorp reiterated a “sector weight” rating on shares of Expand Energy in a research note on Thursday, April 2nd. Barclays lowered Expand Energy from an “overweight” rating to a “reduce” rating in a report on Tuesday, May 26th. Finally, Morgan Stanley lowered their price objective on Expand Energy from $139.00 to $131.00 and set an “overweight” rating for the company in a research note on Monday, June 29th.

Insider Buying and Selling at Expand Energy

In other news, CFO Marcel Teunissen bought 2,000 shares of Expand Energy stock in a transaction dated Thursday, May 7th. The stock was purchased at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the purchase, the chief financial officer directly owned 9,144 shares in the company, valued at $881,755.92. The trade was a 28.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Wichterich bought 1,000 shares of the stock in a transaction dated Friday, June 12th. The stock was purchased at an average price of $88.90 per share, with a total value of $88,900.00. Following the acquisition, the chief executive officer owned 85,498 shares of the company’s stock, valued at $7,600,772.20. The trade was a 1.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 4,000 shares of company stock worth $375,120. Company insiders own 0.22% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in shares of Expand Energy by 33.2% in the fourth quarter. Capital Research Global Investors now owns 21,251,283 shares of the company’s stock valued at $2,345,303,000 after acquiring an additional 5,291,948 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Expand Energy by 36,574.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company’s stock worth $267,172,000 after acquiring an additional 2,414,311 shares during the period. Bank of New York Mellon Corp boosted its position in Expand Energy by 94.7% in the first quarter. Bank of New York Mellon Corp now owns 4,498,905 shares of the company’s stock worth $493,890,000 after purchasing an additional 2,188,422 shares during the last quarter. Victory Capital Management Inc. boosted its position in Expand Energy by 192.0% in the fourth quarter. Victory Capital Management Inc. now owns 3,286,361 shares of the company’s stock worth $362,683,000 after purchasing an additional 2,160,979 shares during the last quarter. Finally, Dragoneer Investment Group LLC bought a new position in Expand Energy in the 4th quarter valued at $145,633,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.

Expand Energy Stock Performance

NASDAQ EXE opened at $88.13 on Friday. The company has a fifty day simple moving average of $91.30 and a 200 day simple moving average of $99.95. Expand Energy has a 12-month low of $84.99 and a 12-month high of $126.62. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a market cap of $21.08 billion, a P/E ratio of 6.57 and a beta of 0.34.

Expand Energy (NASDAQ:EXE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.22. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $3.53 billion. Sell-side analysts predict that Expand Energy will post 8.4 earnings per share for the current fiscal year.

Expand Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 14th were given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, May 14th. Expand Energy’s dividend payout ratio is presently 17.15%.

Expand Energy Company Profile

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.